Stoneridge Investment Partners LLC Takes Position in Cinemark Holdings Inc (CNK)
Stoneridge Investment Partners LLC acquired a new stake in shares of Cinemark Holdings Inc (NYSE:CNK) during the second quarter, Holdings Channel reports. The institutional investor acquired 6,600 shares of the company’s stock, valued at approximately $256,000.
Several other hedge funds have also recently added to or reduced their stakes in CNK. Smithfield Trust Co. increased its stake in Cinemark Holdings by 1.5% in the second quarter. Smithfield Trust Co. now owns 5,730 shares of the company’s stock valued at $223,000 after buying an additional 87 shares during the last quarter. Foster & Motley Inc. purchased a new position in shares of Cinemark Holdings during the second quarter worth approximately $271,000. Texas Permanent School Fund increased its position in shares of Cinemark Holdings by 1.0% in the second quarter. Texas Permanent School Fund now owns 77,350 shares of the company’s stock worth $3,005,000 after buying an additional 784 shares in the last quarter. Great West Life Assurance Co. Can increased its position in shares of Cinemark Holdings by 2.2% in the second quarter. Great West Life Assurance Co. Can now owns 63,728 shares of the company’s stock worth $2,474,000 after buying an additional 1,363 shares in the last quarter. Finally, Janney Montgomery Scott LLC increased its position in shares of Cinemark Holdings by 1.5% in the second quarter. Janney Montgomery Scott LLC now owns 38,671 shares of the company’s stock worth $1,502,000 after buying an additional 559 shares in the last quarter. Hedge funds and other institutional investors own 88.96% of the company’s stock.
Shares of Cinemark Holdings Inc (CNK) opened at 36.95 on Friday. The stock’s 50 day moving average price is $38.23 and its 200-day moving average price is $41.20. Cinemark Holdings Inc has a 52 week low of $36.60 and a 52 week high of $44.84. The stock has a market cap of $4.28 billion, a price-to-earnings ratio of 15.79 and a beta of 1.03.
Cinemark Holdings (NYSE:CNK) last issued its earnings results on Friday, August 4th. The company reported $0.44 earnings per share for the quarter, hitting the consensus estimate of $0.44. Cinemark Holdings had a return on equity of 20.98% and a net margin of 9.12%. The business had revenue of $751.20 million for the quarter, compared to analyst estimates of $751.72 million. During the same quarter last year, the company earned $0.46 EPS. The business’s quarterly revenue was up .9% on a year-over-year basis. Equities analysts anticipate that Cinemark Holdings Inc will post $2.16 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 13th. Stockholders of record on Thursday, August 31st will be given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 3.14%. The ex-dividend date is Tuesday, August 29th. Cinemark Holdings’s dividend payout ratio (DPR) is presently 49.57%.
A number of brokerages have commented on CNK. MKM Partners reiterated a “buy” rating and issued a $50.00 target price (up from $48.00) on shares of Cinemark Holdings in a report on Wednesday, April 26th. B. Riley reiterated a “buy” rating and issued a $53.50 target price on shares of Cinemark Holdings in a report on Thursday, April 27th. Royal Bank Of Canada boosted their target price on shares of Cinemark Holdings from $45.00 to $47.00 and gave the stock a “sector perform” rating in a report on Monday, April 17th. Credit Suisse Group downgraded shares of Cinemark Holdings from a “neutral” rating to an “underperform” rating and reduced their target price for the stock from $38.00 to $34.00 in a report on Thursday, June 22nd. Finally, Moffett Nathanson downgraded shares of Cinemark Holdings from a “neutral” rating to a “sell” rating and set a $33.00 target price for the company. in a report on Monday, June 12th. Four investment analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $43.14.
About Cinemark Holdings
Cinemark Holdings, Inc is engaged in the motion picture exhibition business with theatres in the United States (U.S.), Brazil, Argentina, Chile, Colombia, Peru, Ecuador, Honduras, El Salvador, Nicaragua, Costa Rica, Panama, Guatemala, Paraguay, Curacao and Bolivia. The Company manages its business in two segments: U.S.
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